Oil Prices in January 1997: WTI & Brent Daily Prices and Monthly Average
WTI averaged $25.13 per barrel in January 1997, little changed from December 1996 ($25.23). The average was 33% above the $18.86 of January 1996.
Daily spot prices, January 1997
Chart data table (22 rows; WTI on 22, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Jan 31, 1997 | $24.15 | $23.28 |
| Jan 30, 1997 | $24.80 | $23.43 |
| Jan 29, 1997 | $24.50 | $23.01 |
| Jan 28, 1997 | $23.90 | $22.62 |
| Jan 27, 1997 | $23.85 | $22.56 |
| Jan 24, 1997 | $23.85 | $22.80 |
| Jan 23, 1997 | $23.85 | $22.93 |
| Jan 22, 1997 | $24.40 | $22.93 |
| Jan 21, 1997 | $24.80 | $22.98 |
| Jan 20, 1997 | $25.10 | $22.86 |
| Jan 17, 1997 | $25.40 | $22.87 |
| Jan 16, 1997 | $25.45 | $23.31 |
| Jan 15, 1997 | $25.95 | $23.31 |
| Jan 14, 1997 | $25.10 | — |
| Jan 13, 1997 | $25.20 | $23.41 |
| Jan 10, 1997 | $26.15 | $24.22 |
| Jan 9, 1997 | $26.30 | $24.83 |
| Jan 8, 1997 | $26.55 | $24.78 |
| Jan 7, 1997 | $26.25 | $24.76 |
| Jan 6, 1997 | $26.25 | $24.76 |
| Jan 3, 1997 | $25.55 | $24.19 |
| Jan 2, 1997 | $25.55 | $24.45 |
Prices fell over the month, from $25.55 on Jan 2, 1997 to $24.15 on Jan 31, 1997, with declines on 12 of 18 trading days.
Brent averaged $23.54, on matched dates $1.60 below WTI on average across 21 dates.
Among the 41 January averages EIA has published, 1997's ranks 14th lowest. Within 1997 it ranks the highest of the 12 monthly averages. The high was $26.55 on Jan 8, 1997 and the low $23.85 on Jan 23, 1997. In October 2026 dollars (CPI-U), the average equals $53.31 and the high of $26.55 equals $56.32.
January 1997 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $25.13 | $23.54 |
| Change vs December 1996 | −$0.10 | −$0.24 |
| Change vs January 1996 | +$6.27 | +$5.69 |
| Highest daily price | $26.55 Jan 8, 1997 | $24.83 Jan 9, 1997 |
| Lowest daily price | $23.85 Jan 23, 1997 | $22.56 Jan 27, 1997 |
| Published daily observations | 22 | 21 |
| Average in October 2026 dollars (CPI-U) | $53.31 | $49.94 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 1997.
January in other years
| Year | WTI average | vs January 1997 | Real |
|---|---|---|---|
| 2026 | $60.04 | +138.9% | $62.30 |
| 2025 | $75.74 | +201.4% | $80.47 |
| 2024 | $74.15 | +195.1% | $81.14 |
| 2023 | $78.12 | +210.9% | $88.13 |
| 2022 | $83.22 | +231.2% | $99.90 |
| 2021 | $52.00 | +106.9% | $67.09 |
| 2020 | $57.52 | +128.9% | $75.26 |
| 2019 | $51.38 | +104.5% | $68.89 |
| 2018 | $63.70 | +153.5% | $86.74 |
| 2017 | $52.50 | +108.9% | $72.97 |
| 2016 | $31.68 | +26.1% | $45.13 |
| 2015 | $47.22 | +87.9% | $68.19 |
| 2014 | $94.62 | +276.5% | $136.52 |
| 2013 | $94.76 | +277.1% | $138.89 |
| 2012 | $100.27 | +299.0% | $149.31 |
| 2011 | $89.17 | +254.8% | $136.66 |
| 2010 | $78.33 | +211.7% | $122.01 |
| 2009 | $41.71 | +66.0% | $66.67 |
| 2008 | $92.97 | +270.0% | $148.66 |
| 2007 | $54.51 | +116.9% | $90.89 |
| 2006 | $65.49 | +160.6% | $111.47 |
| 2005 | $46.84 | +86.4% | $82.90 |
| 2004 | $34.31 | +36.5% | $62.53 |
| 2003 | $32.95 | +31.1% | $61.21 |
| 2002 | $19.72 | −21.5% | $37.58 |
| 2001 | $29.59 | +17.7% | $57.04 |
| 2000 | $27.26 | +8.5% | $54.51 |
| 1999 | $12.52 | −50.2% | $25.72 |
| 1998 | $16.72 | −33.5% | $34.92 |
| 1997 | $25.13 | — | $53.31 |
| 1996 | $18.86 | −25.0% | $41.23 |
| 1995 | $18.04 | −28.2% | $40.51 |
| 1994 | $15.03 | −40.2% | $34.70 |
| 1993 | $19.03 | −24.3% | $45.04 |
| 1992 | $18.79 | −25.2% | $45.92 |
| 1991 | $25.23 | +0.4% | $63.26 |
| 1990 | $22.86 | −9.0% | $60.56 |
| 1989 | $18.02 | −28.3% | $50.22 |
| 1988 | $17.13 | −31.8% | $49.97 |
| 1987 | $18.65 | −25.8% | $56.61 |
| 1986 | $22.93 | −8.8% | $70.61 |
“—” in the real column means BLS has published no CPI-U for that month. The comparison column shows how far that year's average was from January 1997.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 2, 1997 – Jan 31, 1997 | Jan 31, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 2, 1997 – Jan 31, 1997 | Jan 31, 1997 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | October 2026 |
Last updated: Nov 10, 2026, 7:01 PM CST. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:1997 daily prices (CSV)